SAICA Leadership in a time of crisis series
Webcast # 14: Leadership in a time of crisis: Business rescue
Are you or your clients facing the edge of the precipice of business collapse? We explore practical options as they relate to the business rescue process and turnaround interventions to rescue your business.
Who should attend?
SAICA members and associates [CA(SA)/AGA(SA)/AT] and trainees and members of the public
We are aware that the South African government will do everything it can to assist struggling businesses in the wake of the coronavirus. However, the harsh reality is that many businesses, especially the more vulnerable small and micro businesses, will take a huge knock in the coming months. This will come either directly as a result of shutdowns and restrictions, or indirectly as a result of the struggling global economy.
Early intervention is key to ensuring the best outcome for companies in distress. Unfortunately, many business owners simply don’t know where to turn when they find themselves in difficulty.
Our experts today will take the audience through the business rescue process, when is it applicable, practical steps that you can take today and real-life examples of business rescue success stories with the ultimate aim to limit the number of insolvencies and job losses over the coming months through pre-emptive rescue and turnaround interventions.
Specific topics to be covered are:
- How to implement a turnaround outside of business rescue.
- What are the alternatives to BR?
- Business rescue (BR):
- An overview.
- The legal framework.
- The pros and cons.
- The process to enter business rescue.
- The practical approach
- What to look-out for as a business owner?
- The business rescue practitioner (BRP) –
- What to ascertain before appointing?
- Are they up to the task?
- How will the rescue be funded?
- The role of the Shareholders.
- What is the impact on –
- The shareholders?
- The Directors? The staff?
- The company and the decision making process?
- How will staff be affected.
- What part do the Courts play?
- The BR Plan – what’s it all about?
- The implementation of the BR Plan.
- Coming out of rescue.
- Industry specific issues and pointers.
- Wrap up
08h00 – 08h45
08h45 – 09h00
About our presenters
PETER CAMERON GORDON – B Compt CA(SA)
Peter has over 40 years international experience in business, banking, corporate finance and professional practice. He also has strong involvement in global markets, risk assessment, business recovery, wholesale and retail banking, African expansion, company turnarounds, consultancy, M&A, capital raising, corporate finance, management and training.
Peter has run Crest Capital, a corporate finance and risk business, for the past 16 years. Within Crest he specialises in M&A, capital raising and business turnaround. He is a senior business rescue practitioner. Peter’s turnaround experience dates back to 1992 when he joined NatWest Bank – London tasked with sorting out financially distressed companies. In 2010 he was appointed as Executive Chair of a failing listed financial services group which had been subjected to management fraud. More recently he has been involved in business rescues, informal turnarounds, capital raising and business disposals. He advises clients on corporate strategy, restructuring and risk evaluation. He has worked extensively with SMME’s in the emerging market, and developed and ran a mentorship programme for a BB-BEE investment fund covering around eighty investments across many industries with a country wide team of thirty mentors. He has advised DFI’s and local banks on a number of significant development projects and investments.
Prior to forming Crest, Peter was an executive member and credit committee member of Absa Corporate & Merchant Bank where he carried executive responsibility for all Absa’s foreign operations. At Absa he enjoyed a credit mandate at executive level. Prior roles at Absa included Head – Mining Finance Division, Head – Africa operations and a member of the Project Finance Team.
He is current chair of Macquarie Securities South Africa Limited and a board member of Ascon Africa. His pro-bono appointments include past chair of The Thembani International Guarantee Fund, an NGO providing financial assistance to disenfranchised communities, and head of the finance committee at St Johns College – Johannesburg.
Peter is a CA(SA), a licensed senior business rescue practitioner and a member of the Turnaround Management Association.
Ian Flemming, Director – CA(SA), Certified Rescue Analyst (UP)
Ian discovered his passion for business turnaround-related activities shortly after qualifying as a Chartered Accountant. He spent time at CMS Group which gave him a solid grounding in the world of corporate renewal and restructuring, debt recovery and insolvency, working with some of the industries’ top professionals.
Fulfilling leadership roles in various industries from investment banking to retail gave Ian invaluable experience and insight into the uniqueness and complexities of every industry; his constant thirst for strategic and analytical excellence, combined with a very strong ability to execute, allowed Ian to experience first-hand what is required to create exceptional businesses.
In 2008 Ian co-founded Debt-IN, a professional outfit specialising in the recovery of distressed debt. Together with his industry experience, Ian brought to the table an unparalleled commitment to client service excellence, and an attitude that every project no matter how difficult it appeared on the surface, deserved to be given the best possible chance of success. These values translated into unprecedented growth for Debt-IN, with the company receiving various accolades from its clients for its often-unsurpassed ability to unlock value.
With his constant need to “fix things”, Ian played key roles in the proprietary turnaround of a steel manufacturing company and a FMCG retail operation between 2011 and 2016.
In 2016 Ian co-founded Engaged Business Turnaround, a business rescue and turnaround outfit with a value proposition aimed at assuring stakeholders that the business in question is given the best possible chance of success under the circumstances, that stakeholders’ exposures are managed in their best interests, and that the quality and credibility of the feedback to stakeholders allows for the most educated level of decision making.
Ian is a CA(SA), licensed business rescue practitioner and a member of SAICA and the Turnaround Management Association.
SAICA’s CPD policy has changed effective 1 January 2020 from an input measurement basis to an output measurement basis. Learning and the development of professional competence is unique to each member and should be aligned to your personal needs identified in your reflective learning plans. For further information and guidance, go to SAICA’s CPD website. The competencies being addressed in this seminar are:
- Business acumen: Business internal environment
- Business acumen: Business external environment
- Business acumen: Innovation and creativity
If you are required to log CPD hours (for instance if you are a SAICA Tax Practitioner or registered with other professional bodies or organisations such as the IOD, SAIPA, SAIT etc.), please note that this seminar affords you 1.00 hour of CPD.
Please note this session is complimentary.